BANGALORE, India, Nov. 19, 2019 /PRNewswire/ -- Data protection requires a set of policies and controls that tackle the cloud's security aspects by protecting software, information, and infrastructure.
Due to its ability to configure the set of services as necessary, the cloud-based security services are expected to see increased market acceptance. The definition of managed security service protects against intruders & cyber attacks and includes firewall of the next generation, content filtering, managed two-factor authentication and even security consultancy. This is expected to offer industry players ample opportunities.
Trends Influencing The Cloud Security Market Share:
Rising adoption of cloud services by enterprises
The proliferating trend of BYOD and CYOD
Region Wise Cloud Security Market Analysis:
The cloud security market is expected to dominate North America as it has highly trained professionals with strong technical expertise to work on cloud computing and resolve security issues related to the use of on-cloud servers.
With the deployment of insecure cloud communication technologies, cloud safety is gaining importance in the Europe region. The vulnerable cloud communication technology creates more danger for the company's server and increases the company's need for implementing cloud security services
In the Asia Pacific region, private cloud systems are being implemented by companies to store their confidential data. The growing use of private cloud services fuels the region's need for cloud protection.
Increasing adoption of cloud services across diverse verticals has resulted in increased dependence on cloud for storage and other applications. Increasing number of internet users and growing adoption of cloud services are the key impacting factors for adoption of cloud security solutions. Over the period, the growth of online business would highlight the significance of this factor.
Increasing Number Of Cyber-attacks
An increasing number of cyber-attacks due to an upsurge in digitalization is one of the driving factors of the cloud security market. Cyber-attacks have increased rapidly, thereby, resulting in a strong need for cloud security services.
The number of data theft cases have exponentially increased in the last five years, owing to increased generation of digital content and lack of security to protect financial and corporate data. BFSI, followed by IT & telecom and retail, are the most targeted industries.Therefore, burgeoning number of cyber-attacks and data breach cases would boost the growth of the market in the future.
Growing Market For Managed Security Services
The concept of managed security service offers protection against intruders & cyber-attacks and includes next-generation firewall, content filtering, managed two-factor authentication and even security consultancy. This is expected to provide ample opportunities for market players.
Cloud Security Key Segments
The market segmentation is illustrated below:
Cloud Security Market by Type
Cloud Identity and Access Management
Data Loss Prevention
Email & Web Security
Cloud Database Security
Cloud Security Market by End User
Large scale enterprise
Small & medium enterprise
Cloud Security Market by Vertical
IT & Telecom
Cloud Security Market by Deployment
Cloud Security Market by Geography
Latin America, Middle East and Africa (LAMEA)
CA Technologies, Inc.
Cisco Systems, Inc.
Trend Micro, Inc.
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